Wipro (WIT) Stake Boosted by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lifted its position in shares of Wipro (NYSE:WIT) by 14.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 563,155 shares of the information technology services provider’s stock after purchasing an additional 71,649 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Wipro were worth $3,080,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nationwide Fund Advisors boosted its holdings in shares of Wipro by 107.8% during the 3rd quarter. Nationwide Fund Advisors now owns 55,254 shares of the information technology services provider’s stock worth $314,000 after buying an additional 28,658 shares during the period. Schroder Investment Management Group raised its position in shares of Wipro by 59.5% in the 4th quarter. Schroder Investment Management Group now owns 1,573,069 shares of the information technology services provider’s stock valued at $8,604,000 after buying an additional 586,542 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Wipro during the 3rd quarter worth approximately $280,000. Renaissance Group LLC increased its position in Wipro by 1.4% during the 4th quarter. Renaissance Group LLC now owns 2,799,620 shares of the information technology services provider’s stock worth $15,314,000 after purchasing an additional 39,958 shares in the last quarter. Finally, US Bancorp DE increased its position in Wipro by 35.8% during the 4th quarter. US Bancorp DE now owns 86,937 shares of the information technology services provider’s stock worth $475,000 after purchasing an additional 22,935 shares in the last quarter. 2.52% of the stock is currently owned by institutional investors.

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WIT stock opened at $5.35 on Friday. The company has a market cap of $23,755.57, a P/E ratio of 19.81, a P/E/G ratio of 2.30 and a beta of 0.67. Wipro has a 1 year low of $4.75 and a 1 year high of $6.40. The company has a quick ratio of 2.14, a current ratio of 2.16 and a debt-to-equity ratio of 0.06.

Wipro (NYSE:WIT) last released its quarterly earnings data on Friday, January 19th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.06. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Wipro had a net margin of 15.46% and a return on equity of 16.09%. research analysts expect that Wipro will post 0.27 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on the stock. BNP Paribas upgraded shares of Wipro from a “reduce” rating to a “hold” rating in a research report on Monday. Zacks Investment Research cut shares of Wipro from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Finally, Credit Suisse Group cut shares of Wipro from a “neutral” rating to a “sell” rating in a research report on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $141.50.

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Wipro Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. The company's IT Services segment provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, business process services, research and development, and hardware and software design services to enterprises.